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Longevity risk pose a major challenge for life insurers and pension funds around the world. As a new risk management tool, securitization can offer great opportunities for hedging this risk. The purpose of this paper is to improve the design of longevity bonds in an incomplete market framework. The paper develops a stochastic survival model suitable for financial pricing and risk management applications...
Payment balance of pension insurance funds is the key factor if basis pension insurance system works normally. We establish the actuarial model of pension insurance funds payment balance based on the newest policy of Jiangsu province's pension insurance (the No.36 documents of Jiangsu Province People Government). And then we set up reasonable numerical value for the parameter in the model, carry out...
This paper analyzes the implementation of pension investment program. It is divided into two stages, namely, deposit and withdrawing money. According to the relationship between the actual changes of total deposits and quantity, the model of pension fund scheme based on the difference equation is established, and then the model is solved by iteration algorithm. Based on the model, the insured persons...
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